tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Pacific Nickel Hits Snags, Seeks Project Financing

Pacific Nickel Hits Snags, Seeks Project Financing

Pacific Nickel Mines Limited (AU:PNM) has released an update.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Pacific Nickel Mines Limited focused on accelerating production at the Kolosori Nickel Project in the June 2024 quarter, aiming to achieve a 1.5 million tonnes per annum rate and capitalize on higher-grade nickel ore for improved pricing. However, operations faced setbacks due to unusual wet weather and equipment issues, prompting a temporary hold on the project and leading to a trading halt and voluntary suspension as the company seeks financing solutions with Glencore amidst a weakening nickel price forecast.

For further insights into AU:PNM stock, check out TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1